About the Mortgage Loan Process
There's no question that getting a mortgage is a complex process. You wouldn't be visiting our website if you could fill out a simple loan app and get an excellent loan funded in one day. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Step One: Decide how much you can afford
A couple of factors determine this amount. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment amount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step Two: Pre-qualify for your loan
This is where House Loans Mortgage Services Corp can begin saving you money. You will provide information about your current job, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission, of course). After we've reviewed this information, we'll provide a pre-qualification letter. Be careful with this letter — it can be a great tool when you make your offer! Your real estate agent should use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for your new home with your agent, we find the best program for you.
Once you have made an offer and the sellers have accepted, you should complete the loan application. It couldn't be easier, and you can apply online, right here on our site. After the offer has been accepted and you have applied for your loan, we'll order the professional appraisal on the home.
Step Four: Funding
Your Realtor® and the sellers will coordinate to find a title company to take care of the funding of your loan. We'll coordinate with this company to make sure the papers your lender requires are available, and you'll likely sign all these papers at this company's office. We will coordinate with the title company on your date to close. Since you won't have to worry about these details, you get to concentrate on the move, painting, carpet, and all the details of moving into your new house.
After you have answered some few questions, provided detailed information, and applied, you'll be ready to move sooner than you think! We do the legwork so you can spend your time finding the new home that's right for you.